Kazem Gharibabadi, the Iranian Ambassador to International Organisations in Vienna, says Tehran has informed the International Atomic Energy Agency (IAEA) of its decision to extend an earlier deal with the UN’s nuclear watchdog for one more month at most. According to Gharibabadi, the IAEA cameras will be allowed to continue …
Read More »IOOC Implements New High-Tech EOR Pilot Project
Iranian Offshore Oil Company (IOOC) has implemented a pilot enhanced oil recovery (EOR) project in which a nanofluid has been injected into an oilfield in southern Iran for the first time to boost its recovery factor. The high-tech project was unveiled in a ceremony attended by officials from IOOC, the …
Read More »Iran Starts Pumping Oil Into Strategic Goreh-Jask Pipeline
Managing director of the National Iranian Oil Company (NIOC) has announced the beginning of oil transfer operation through Goreh-Jask pipeline which is laid from Goreh oil terminal in the southwestern Bushehr Province to Jask oil terminal along the Gulf of Oman. Masoud Karbasian made the announcement on the sidelines of …
Read More »Iran’s Non-Oil Exports Grow 46%
Head of Iran’s Customs Administration (IRICA) Mehdi Mir-Ashrafi said that the country exported $5.6 billion worth of non-oil goods and commodities to foreign countries from March 21 to May 15, 2021, showing a 46% rise compared with the same period last year. Mir-Ashrafi said that some 15.5 million tons of …
Read More »Iran to Develop Offshore Farzad B Gas Field without India
The National Iranian Oil Co. is set to sign a $1.78 billion deal with a domestic company to develop the Farzad B gas field in the Persian Gulf, oil ministry news service Shana reported May 16. Petropars, Iran’s leading general contractor, will ink a buyback deal with NIOC on May …
Read More »Oman Key Partner in OPEC+ Decisions
The Director-General of Marketing at the Ministry of Energy and Minerals has said the Sultanate is an important partner in the cooperation agreement signed between OPEC and non-OPEC members that decided to cut oil production. He said that it was decided that the Sultanate’s share of the production cut in …
Read More »Iran’s Non-Oil Exports up 80% in Current Year
The Minister of Industry, Mine and Trade said that Iran’s export of non-oil commodities registered an eighty percent hike in the first two months of the current Iranian calendar year (from March 21 to May 20). Speaking in a get-together meeting of programs on promoting export in the country on …
Read More »OPEC Expects Global Economic Growth to Sustain Oil Demand but Sees India’s Energy Needs Collapsing
OPEC left its global oil demand forecast for 2021 unchanged in its monthly outlook report, due to an economic rebound in the second half of the year but the bloc sees energy consumption in India, the world’s third-biggest consumer of oil, collapsing because of the surge in Covid-19 infections. The …
Read More »Iran Expects 2.5 Mil b/d Exports after US Sanctions Removal as Vienna Talks Continue
Iran expects to export as much as 2.5 million b/d of crude after the removal of US sanctions as the third round of talks between Tehran and some signatories to the nuclear agreement concluded in Vienna amid hopes of Washington removing oil sanctions on Tehran. “Oil sales have dropped much. …
Read More »European Parliament Suggests Halting Gas Purchases from Russia in Case of War with Ukraine
The European Parliament suggests halting oil and gas purchases from Russia and disconnecting it from SWIFT in case of “invasion in Ukraine.” Such statements are contained in the final draft resolution on Russia posted by the European Parliament on Thursday. The European Parliament “underscores if such a military build-up were …
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